Online chatter has once again sparked rumors that Ripple is gearing up for a substantial repurchase of its circulating XRP coins. Advocates of this notion believe that such a move is aimed at resolving issues of oversupply and price instability, thereby enhancing the appeal and value of XRP.
However, Ripple CTO denied the rumor publicly on Twitter stating “We do sometimes buy XRP. But I don’t know of anything specific that this could be referring to. And there’s no official source mentioned.”
In this article, we will discuss how rumor mills impact new cryptos. Especially in the meme coin arena where it spreads like wildfire leading to a selling frenzy. DogeMiyagi (MIYAGI), a karate-themed meme coin is gaining monumental traction with its unique referral mechanism.
Debunking the XRP Buyback Speculation
The speculation stems from an article published by CryptoAlert towards the end of June. The report alleged that Ripple, a blockchain payments company based in San Francisco, planned to buy back 10 billion XRP from the market.
This figure represents a massive 10% of the token’s circulating supply. The crypto community met this news with a mix of enthusiasm and intrigue, as a repurchase of this size could have profound effects on XRP’s price and the overall sentiment towards the token.
In response, Ripple’s CTO, David Schwartz took to Twitter to address these rumors. Dismissing them as unfounded, he questioned the authenticity of the news article due to the lack of an official source. Schwartz stressed that while Ripple occasionally buys XRP, he is unaware of any specifics concerning a potential large-scale buyback corresponding to the claims made.
Ripple Vs SEC: What’s New?
Ripple’s longstanding legal battle with the SEC is back in the limelight following a recent dispute between a Ripple attorney and a former SEC official. Attorney Bill Morgan, prominent XRP community member Mr. Huber, and ex-SEC enforcement lawyer Marc Fagel debated why the regulator didn’t file any injunction against Ripple if they had committed illegal activities besides “selling unregistered securities.”
Morgan’s response pointed out that Ripple has only been involved in on-demand liquidity (ODL) sales since May 2020, and filing a temporary restraining order could risk weakening the SEC’s argument that XRP is a security.
DogeMiyagi: The Karate Kid of Meme Coins
DogeMiyagi (MIYAGI), the latest addition to the meme coin family, is carving out its distinctive niche by merging AI, blockchain technology, and meme culture. Drawing inspiration from Mr. Miyagi of the classic Karate Kid franchise.
In anticipation of a looming presale, DogeMiyagi is set to launch its innovative decentralized exchange system – the Killer Swap Machine. Coupled with dynamic social media marketing efforts, these advancements further bolster DogeMiyagi’s appeal to potential investors and solidify its unique position in the meme coin market.
MIYAGI Presales: Why Is It Worth Investing?
So, what makes investing in DogeMiyagi’s presales exciting? DogeMiyagi is not projected to be just another player in the meme coin game; it aspires to spearhead the NFT wave. By committing early to DogeMiyagi’s presales, you align yourself favorably with this unfolding story. As NFTs increasingly permeate various sectors, DogeMiyagi pledges significant growth potential and the exhilaration of being part of a pioneering enterprise.
In essence, DogeMiyagi extends beyond a mere investment prospect. It serves as your pass to an exceptional digital art journey, a thriving community, and a ride on the NFT-driven transformation bandwagon. Don’t let this opportunity slip away (or in other words, don’t miss your dojo call)!
Deciphering Crypto Chatter
In the volatile landscape of cryptocurrency, rumors can spark a significant movement. While Ripple continues to battle with regulatory obstacles, it seems unfazed by circulating buyback rumors.
Meanwhile, meme coins like DogeMiyagi are leveraging the power of social media and community-driven initiatives to stake their claim. With its ambitious roadmap, DogeMiyagi presents a prime opportunity for early investors to be part of an NFT-led revolution. Amidst the clamor, it’s crucial for investors to navigate these turbulent waters with due diligence and informed decision-making.
DogeMiyagi:
Website: https://dogemiyagi.com
Twitter: https://twitter.com/_Dogemiyagi_
Telegram: https://t.me/dogemiyagi